Call me crazy, Worldcom

[PhilNH5]

I don't think you are crazy. When I first got out of school I worked for a man whose whole investment strategy was Chp 11 companies. As mentioned above he brought bonds. He tried to convince me to buy bonds of Public Service of New Hampshire. (I was living/working in PA at the time). PSNH had built a nuclear power plant in Seabrook. The neighboring state governor (Mike Dukakis of Mass) refused to allow evacuation plans and routes in his state. The power plant needed a warning system and evacuation plan for a 10 mile radius and this would have extended into Mass. Without the plan the NRC refused to give PSNH a license to bring the Seabrook facility online. So PSNH was having severe financial trouble.
Bonds were selling for pennies on the dollar.

I was newly married and had no spare money. He took $1000 and brought the bonds. I left that company shortly thereafter. But PSNH did get a license and did recover. and he had $10K now. Wow! He said it was a risky strategy but the comanies that recovered more than compensated for those that tanked.

And now I live in NH and PSNH is my electric company.

 

[Gatorboy]

I sure hope you dumped WorldCom when it hit 0.25 for they just discovered $3 Billion more in errors:

<A target="_blank" HREF=http://story.news.yahoo.com/news?tmpl=story&cid=578&u=/nm/20020809/ts_nm/worldcom_accounting_dc_8>WorldCom Finds $3 Billion in More Errors</A>

 

[RanchMan]

Bird -

<font color=blue>...I've cussed them, asked them to never call again,...</font color=blue>

Couple of things...

Texas law says that once you request the offender put you on their "no call list", they must not call you back or they face a fine for every offence. (Need a little extra income from a bankrupt company??? /w3tcompact/icons/laugh.gif)

Also, not sure if you've done this or not, but for $4.80, you can be put on the official "No Call List" with the State of Texas for 5 years. There are some exceptions on who can call you (current businesses you have a relationship with, some charities, debt collectors, you request they call, etc.), but it seems to work well. Since I was put on, I have only received a couple of charities phone calls. Might be something worth looking in to if you have real telemarketer troubles...

<A target="_blank" HREF=http://www.texasnocall.com/subscriberFAQ_TX.asp>http://www.texasnocall.com/subscriberFAQ_TX.asp</A>

 

[Bird]

Yeah, Ranchman, I know about that new law and system where you can get on the "no call" list for a fee, but haven't done it, partially because of the time and fee involved and partially because we have our place up for sale and figure if it sells, we'll be changing phone companies and phone numbers.

 

[rancar]

Brent...

Looks like a decent speculator's bet. Not much to lose on the downside...but terrific upside potential, if WCOM gets their act together. My gut feel though is the market has already priced in WCOM's bankruptcy and liquidation of assets. It's only a matter of time before they are delisted.

Bob

 

[Anonymous Poster]

Colorado has a free no call list. You can sign up by phone or on the Web. Best 3 minutes that I ever invested. There are only 800K+ numbers in it so far. The telemarketing association spokesperson was speaking out opposing this approach, of course. He was saying that folks on that list were "depriving themselves of opportuinties". Yeah right. When those telemarketing goobers start paying me to listen to their pitch, I might consider listening. It has been blissfully quite since 1 July 2002.

 

[TerryinMD]

rancar,

They've been delisted from the NASDAQ for a couple of weeks now....

They're close to my heart and I watch every move with baited breathe....

Terry

 

[Tractors4u]

I have been tracking it on NASDAQ's online ticker just as recently as this morning. I just wish I had bought it this morning instead. LOL

 

[TerryinMD]

You are seeing the stock prices that are offered on the Open Market.

A snipet from an article off of CBSMarketWatch.com

<font color=blue>Nasdaq to Delist WorldCom, Inc.

7/29/2002 5:00:00 PM
NEW YORK, Jul 29, 2002 /PRNewswire via COMTEX/ -- The Nasdaq Stock Market, Inc. (Nasdaq(R)) today announced that it will delist the securities of WorldCom, Inc. (WCOEQ) (MCWEQ) (MCPEQ) . The decision was based upon the company's failure to comply with the Nasdaq listing requirement that the company remain current in its periodic filings with the SEC, and based upon concerns related to the Company's ongoing bankruptcy proceeding.

The delisting will be effective upon the open of business on Tuesday, July 30, 2002.</font color=blue>

Terry